It was the best week gains for US indices in 2016. SPX and RUT gained 2.9% and 3.9% respectively. The IHS patterns of SPX and RUT are still forming on the right side on daily chart if they can hold an retest of their necklines. Sentiment is bearish with many pros predicting another leg down nearing. Technically it's still a lower highs and lower lows on daily unless the Feb high is broken and held. Bulls have shown signs of tiredness in the last 2 days. Friday was quiet with monthly options expiration.
Most of my positions ended positive except the deep ITM rollovers with collected additional premiums. The realized P/L is $6350. I was able to reduce my put positions with the up move of the market. Most of my put positions are in safe distance other than the deep ITM of RUT 1070, 1080 and SPY 197. I plan to spend some premiums to reduce my ITM positions next week.
I didn't complete my plan to learn TOS risk projections from last week. I roughly finished my sheet of trading size calculation. I should have only two CS for SPX for 7-8 weeks, or should I just monitor Net liq at 40-50% as Karen mentioned?
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